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Assessing the cost of document management

April 17, 2017

Assessing the cost of document management

The traditional way of handling documents is expensive, and companies of any size can benefit from a document management system.

A Gartner survey has determined that:

  • On average, a document is copied, physically or electronically, nine to 11 times—at a cost of about $18.
  • The cost to file a document is about $20, and the cost to retrieve one that’s misfiled is about $120.

And don’t forget the incidental expenses associated with manual document management, including on-site and off-site storage, filing cabinets and floor space, postage and other shipping costs.

Infotrends estimates that about 6% of companies’ revenue goes to document expenditures, including hardware, supplies and labor costs.

Making the case for document management

As their technology partner and trusted advisor, you can help resistant customers figure out how much they could save (in hardware, supplies and “people” costs) by making the investment. To calculate document handling costs, it’s essential to factor in such metrics as the number of employees that handle documents, how long it takes them and their average hourly salary.

Once they compare the total of these metrics with the total cost of purchasing a document management system (including the software, implementation, training and consulting), even the most reluctant businesses will see the advantages. And be sure to point out that document management automation results in better data integrity and document security. Not to mention, more time to devote to marketing, sales and customer relationship management.

Implementing a document management solution will pay off, and the ROI will be significant.
You owe it to your customers to have them seriously consider the investment.